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EuroSibEnergo to launch a solar power plant in 2014

OJSC ATS has selected projects to construct power generating facilities that use renewable energy sources (RES).

As part of a single selection process for RES projects, 12 separate competitions were held, each competition focusing on one year within the period from 2014 through 2017 and one type of facilities using RES (HPPs, wind farms, solar power plants). Projects with the lowest proposed CAPEX became winners.

EuroSibEnergo participated in the selection and presented a project to construct the 5.2 MW Abakanskaya solar power plant. The company plans to build the plant in Abakan in the Republic of Khakassia and to commission it in 2014.

In relation to the project, EuroSibEnergo will conclude a contract with investors which ensures a 15-year payback and the benchmark rate of return totaling 14% per annum.

Vyacheslav Solomin, acting CEO of EuroSibEnergo:

‘Today, renewable energy production attracts investors most. Solar power generation enables to make production more environmentally friendly, supply energy to a large number of consumers and considerably reduce prices. Thus, we minimize the environmental impact and create a sustainable energy system of the future.’